People’s Republic of China—Hong Kong Special Administrative Region: Staff Report for the 2004 Article IV Consultation Discussions
Electronic Access:
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Summary:
This 2004 Article IV Consultation highlights that after a period of prolonged weakness in economic activity, persistent deflation and rising fiscal deficits, the macroeconomic outlook for Hong Kong Special Administrative Region has improved significantly since mid-2003. The recovery has gained significant momentum and become broad-based in 2004. The consolidated fiscal deficit for FY2004/05 is now projected at about 1¾ percent of GDP, compared with the budget target of about 5 percent of GDP. The improvement relative to the budget is on account of buoyant revenue performance and continued expenditure restraint.
Series:
Country Report No. 2005/063
Subject:
Banking Budget planning and preparation Expenditure Financial regulation and supervision Government debt management Public financial management (PFM) Taxes Value-added tax
English
Publication Date:
February 21, 2005
ISBN/ISSN:
9781451816921/1934-7685
Stock No:
1HKGEA2005002
Pages:
42
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